The base salaries of 16 of Pinnacol Assurance’s 23 top executives each topped $200,000 last year. The lowest base pay was for the assistant vice president of human resources at $172,276, records show. 

For this year, 19 of 22 executives had base salaries of more than $200,000 with the lowest — $179,250 — to that same assistant vice president.

All Pinnacol executives are eligible for additional bonus pay — and are frequently given it.

Pinnacol’s bonuses are granted as a percentage of an executive’s base salary, with the minimum being given merely for having done their job adequately, records show.

Performance for bonuses, records show, is rated at three levels: threshold, commendable and maximum. The CEO determines those of the other executives while his is determined by Pinnacol’s board of directors.

For performance judged to be at the threshold of what is expected of them, associate vice presidents are given a minimum 20% bonus, vice presidents 22.5% and the CEO 32.24%, according to the plan.

Maximum performance results can yield bonuses of 45%, 52.5% and nearly 64%, respectively.

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